A workshop on “Vision and investment potential in the port system, maritime transport and logistics in India” was hosted in collaboration with Vietnam National Shipping Lines (VIMC) and the Vietnamese Embassy in India. The workshop gives VIMC the chance to look for strategic ways to increase its market share in the nation with the fifth-largest economy in the world while also advancing economic cooperation between Vietnam and India.
There is plenty of opportunity for expansion in the logistics industry, as evidenced by India’s foreign trade turnover, which hit $776 billion in 2023 and is predicted to reach $2.000 billion by 2030. With these numbers, marine companies like VIMC have the chance to capitalize on their advantages and create effective supply chains, giving Vietnam direct access to a market with over 1.4 billion people.
VIMC’s deputy general director, Le Quang Trung, stressed during the workshop that the organization’s objective is to create a thorough service chain and strong ties in order to encourage import and export between the two nations. In order to establish a comprehensive logistics ecosystem and encourage two-way trade between the two nations, he also stated his intention to not only preserve current shipping routes but also to develop maritime routes and work with Indian partners to invest in suitable port and logistics infrastructure systems.
In 2021 and 2022, VIMC planned to establish direct container lines connecting Cua Lo, Kolkata, and Hai Phong, India. These routes significantly boost the import-export industries of both nations by reducing transit times and establishing supply chain stability. VIMC plans to construct “Vietnam House” logistics facilities in India in the future. In order to meet the expanding needs of companies in the two markets, this platform will offer integrated services—from storage and delivery to freight transport—with the best possible efficiency and affordable prices.
Vietnam and India have excellent opportunities for marine cooperation due to their advantageous geographic location and expanding commercial relations, particularly given that both nations want to reach a bilateral trade turnover of $20 billion. The “Vision and potential for investment in the port system, maritime transport and logistics in India” workshop has given VIMC numerous chances to grow its business in this prospective market and establish a long-term, mutually beneficial partnership.
In addition to confirming VIMC’s leadership position in the Vietnamese maritime sector, the company’s presence in India helps to strengthen bilateral trade ties between the two nations, foster cooperation and development, and ultimately advance the prosperity of both Vietnam and India.
